Truist Financial Corp Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Truist Financial Corp increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,195 shares of the software maker’s stock after acquiring an additional 89 shares during the quarter. Truist Financial Corp’s holdings in Intuit were worth $60,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INTU. Brown Financial Advisors raised its stake in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC raised its position in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the period. Chris Bulman Inc raised its position in Intuit by 1.1% in the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after acquiring an additional 17 shares during the period. Freedom Day Solutions LLC boosted its stake in Intuit by 0.4% in the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after acquiring an additional 17 shares during the last quarter. Finally, Covenant Partners LLC increased its stake in shares of Intuit by 3.4% during the 3rd quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock worth $324,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at approximately $23,701,828.41. This represents a 41.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $587.38 on Tuesday. The stock’s 50-day simple moving average is $620.21 and its two-hundred day simple moving average is $629.84. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The firm has a market capitalization of $164.42 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the business earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.